The L2 era has reached the public chain competition landscape quietly changed?

As we all know, the Ethernet Square, the main selling point L2s network on their enormous benefits to users in terms of scalability , even though I think it underestimated the effectiveness L2s brings. This is because they also provide other important functions, such as near-instant transaction confirmation allowing richer development work (not limited to Solidity and EVM), and the best part is that L2s can “outsource” its security to Ethereum L1.

The L2 era has reached the public chain competition landscape quietly changed?

Tweet source: https://twitter.com/sassal0x/status/1455705956537430016?s=20

So, what does it mean to “outsource security to Ethereum”? In simple terms, this means that the L2s structure does not have to worry about the need to reach a consensus on the transactions they process and execute, because they outsource this work to Ethereum L1 to complete ! This is what I often call ” modular design “, that is, in the modular design stack of Ethereum L2s is the execution/computation layer , and Ethereum L1 is the consensus/security layer, which is also (optionally) data Availability layer (Note: The L2s network will selectively use Ethereum L1 as the data availability layer, such as the Rollups network; while the Validium solution chooses to put data availability off-chain) .

Of course, over time, L2s network will need for them sequencer (sequencers) and verifier (validators) to achieve decentralization , but with the creation and maintenance of a decentralized consensus / security is completely different , It is also easier to implement.

Therefore, I think the era of L1s is over . Looking ahead, we will most likely not see more L1 networks being deployed; on the contrary, we will only see blockchains built purely for data availability. Such as Celestia and Polygon Avail; we may see that some one-off L1s deployments will eventually be worthless. I believe that the next few years will be dominated by those L2s networks that take advantage of the security, community, and network effects of Ethereum L1, so as to achieve rapid growth and adoption of their own usage . The beauty of this approach is that, L2s network completely without fear consensus / security layer, they need to do is pay for storage to Ethernet Square L1 proof (proofs) and / or data Gas costs, to provide security for their own Ensure that they can concentrate all their attention to improve their execution/calculation process.

A popular idea is that other L1s networks will eventually become L2 networks on Ethereum, because it makes more sense . Now, although I agree with this point of view, I very much doubt whether those larger L1s ecosystems will consider doing so. After all, they are pure Ethereum competitors. If they transform into the L2s network in Ethereum, then they It’s basically admitting that I lost to Ethereum. It is as if the king of a competitive country gave up his crown and pledged allegiance to another new king-this is unlikely (at least they are reluctant to do so).

Interestingly, by transforming into the L2 network on Ethereum, other L1s ecosystems can actually benefit a lot, not only on the technical level , but also on the social level : by transforming into the L2 network on Ethereum, Not only can they continue to retain their own native tokens, communities, applications, etc., they will also benefit from the entire Ethereum ecosystem without having to worry about the consensus/security layer.

Read here some readers might think I am too inclined to “great doctrine Ethernet Square” Ethereum maximalist) point of view, but I just think that I have outlined in this article is the most pragmatic view. If the goal of an L1 network is to be as decentralized and secure as possible, then instead of trying to start from scratch, why not use other most decentralized and secure blockchains as its own consensus layer? In addition, if a new L1 network is trying to bypass the limitations of Solidity and EVM Ethereum Virtual Machine) , then it can actually do this on Ethereum L2-from a technical perspective , I really can’t think of any shortcomings of launching itself as an Ethereum L2 network (not an L1 network).

Of course, the social level is another important factor. This is also the level where Ethereum’s competitors are willing to boast that they are “better” than Ethereum. If they become the L2 network on Ethereum, it is equivalent to giving up this marketing point, and at the same time it may harm the value growth of their native tokens, so I can understand why they want to remain as the L1s network (although I think Now this strategy has failed).

I am very much looking forward to seeing which L1 network will first be transformed into L2 network in the future, although in this respect I cannot yet point out which candidates are there. There are currently many smaller L1s networks that may do this, but in fact, if they are transformed into L2 networks, they will need to compete with the native L2s network and some larger L1s networks at the same time , so it is possible for them It’s not worth it. In any case, the next few years will be very interesting, the era of L2 has really come .

Posted by:CoinYuppie,Reprinted with attribution to:https://coinyuppie.com/the-l2-era-has-reached-the-public-chain-competition-landscape-quietly-changed/
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